Month: August 2014

A bankruptcy judge in Virginia has approved the sale of three coal mining complexes to Lexington, Ky.-based Blackhawk Mining. The deal was part of the James River Coal Co. bankruptcy, Case No. 14-31848 (Bankr. E.D. Va.). The three facilities are located in West Virginia, Kentucky, and Indiana. The total sale price was $52 million. The buyer will pay $20 million to the bankruptcy estate and assume $32 million in liabilities which relate to the three mining facilities. This arrangement is common in bankruptcy because it brings liquid assets into the estate plus it reduces the […]